Lean Startup: Why companies should embrace a Lean methodology

There is a underdevelopment or lag in terms of appropriation of new innovative methods in Latin America due to the lack if resources allocated in Research & Development, deficit in a managerial mindset, entrenched focus in productive industries of extraction and processing of raw materials, between other causes that would be described in further chapters. Innovating is going beyond of what is traditional, considering always the customer´s needs; the previous statement is the core argument of the Lean startup methodology. The current thesis aims to provide bases to Latin American firms that allow them to venture and dive deep in this new trend of innovation. To achieve the previous it was compulsory to diagnose the enterprise context in Latin America and to review examples of savings and success achieved by big corporations in several industries and market places. The necessity of extracting common actions, paths, methodologies or strategies that could be applied in the Latin American firm context regardless of the trajectory (time since foundation) or size of a firm lead to, not only diagnose and compare the Latin firm status against other firms on more developed countries, but also drive to how to apply the Lean Startup Methodology in order to obtain better productivity and profitability of the businesses.